FULFORD (INDIA) LTD. - Updates

Fulford India Ltd has informed BSE that the Company had raised Rs. 4025 lakhs by issuing 7,00,000 Equity shares of Rs. 10/- each at a premium of Rs. 565/- per share, to its promoters Dashtag. The funds were raised to provide capital in order to permit the Company to strengthen its position in the market and act on strategic business growth opportunities, as stated in the explanatory statement to the notice dated October 16. 2006 convening the Extra-ordinary general meeting of the company on November 15, 2006.<BR><BR>Out of the aforesaid amount, the Company has utilised Rs. 139 lakhs towards business expansion during the quarter ended March 31, 2015. Total amount utilized by the Company towards business expansion till March 31, 2015 is Rs. 1093 lakhs. The remaining balance amount of Rs. 2932 lakhs continue to be invested in fixed deposits with banks pending utilisation of the same.